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Breaking NEWS : CHINESE STATE INVESTMENT FUND MAY BUY STAKE IN DAIMLER

Written By Nathen Bridgwater on Tuesday, January 8, 2013 | 11:42 PM

BEIJING : January 9, 2013 - China's sovereign wealth fund may buy a stake in Daimler AG, the parent of Mercedes-Benz, a China media outlet reported.


The auto news channel of the online site of the state-owned People's Daily said China Investment Corp., the country's investment vehicle, was interested in buying a stake in Daimler ranging from 4 to 10 percent. 

The article cited no sources, saying only that the information "had been revealed." The China Investment Corp. declined to comment.

Daimler CEO Dieter Zetsche has said he would welcome a Chinese investor in the company. Company spokeswoman Silke Walters declined to comment on the report but said: "In general we always welcome any new investors as a balanced shareholder structure is in the interest of Daimler."

A person familiar with the matter told Reuters the report was without merit. But Daimler shares rallied on the report, hitting a 9-month high during trading on Monday.

News of the possible investment comes at a time when the German automaker is conducting a shake-up of its troubled Chinese operations.

[Source : REUTER via AUTOMOTIVE NEWS CHINA]
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